Investment Sales

Zaterra
ArizonaInvestment SalesNewsWestern

IPA Arranges $137.5 Million Metro Phoenix Sale

by Lynn Peisner

CHANDLER, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Zaterra, a 392-unit property in Chandler. The asset traded for $137.5 million, or $350,765 per unit. Completed in 2023 on 22 acres, Zaterra is a two- and three-story, garden-style property with an average unit size of 1,043 square feet. Amenities include two pools, a suite with a large conference room and individual workspaces, 24-hour fitness center and a yoga lawn. The sellers were entities doing business as PB Bell and PCCP, LLC. The buyer was not identified.

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Bergen-Town-Center-Land
DevelopmentInvestment SalesNew JerseyNewsNortheast

Russo, KRE Buy Multifamily Land Site Near Bergen Town Center in New Jersey

by Lynn Peisner

PARAMUS, N.J. — Urban Edge Properties, a publicly traded REIT, has sold a land site to Russo Development and KRE Group for $25 million. JLL Capital Markets arranged the transaction. The parcel is adjacent to Bergen Town Center in Paramus. The new community will be developed in two phases. The first phase includes 166 units. The second will include 260 units. In each phase, developers will deliver four floors of residential space over two or three levels of parking. The development will also include an amenity package and two retail suites …

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BerkadiaBuild-to-RentInvestment SalesNewsNorth CarolinaSoutheast

Berkadia Arranges Charlotte Area Build-to-Rent Sale

by Lynn Peisner

INDIAN TRAIL, N.C. —Berkadia has arranged the sale of Poplin Trace in Indian Trail, a city about 15 miles southeast of Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reported the asset traded for $31 million. The seller was Arizona-based Belleview. The buyer was not disclosed. As of the date of sale, which was April 22, the property was 93 percent occupied. Poplin Trace offers 99 units, all as three-bedroom townhomes with attached two-car garages. The townhome, build-to-rent community was developed in 2021. Managing Director Caleb …

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Outlook-Table-Mesa
ColoradoInvestment SalesNewsWestern

Evergreen Devco Sells Metro Denver Asset for $97 Million

by Lynn Peisner

WHEAT RIDGE, COLO. — Evergreen Devco has sold Outlook Table Mesa, a 250-unit development in Wheat Ridge, for $97 million. The buyer was FJ Management. Dave Martin and Brian Mooney of Northmarq’s Denver office negotiated the sale on behalf of Evergreen. Situated within the Clear Creek Crossing mixed-use development, Outlook Table Mesa offers a clubhouse featuring a business lounge, a fitness center, electric-vehicle charging stations and a secure mail room with package lockers and a dedicated space for oversized deliveries. Outdoor amenities include a hot tub and a resort-style pool …

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Tishman Speyer Nashville
Investment SalesNewsSoutheastTennessee

Tishman Speyer Buys Midtown Nashville Property

by Lynn Peisner

NASHVILLE, TENN. — Tishman Speyer has acquired 2010 West End Avenue for $112 million. The 25-story, 358-unit property was developed by CA Ventures in 2021 in the Midtown area of Nashville, within walking distance to Vanderbilt University. Tishman Speyer’s acquisition was financed in part by a $67.2 million loan from Corebridge. 2010 West End Avenue includes 6,000 square feet of ground-floor retail. Units are offered as studios, one- or two-bedroom floor plans. A rooftop pool, hot tub, a fitness center and dog run are among the amenities. The asset is …

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3541-3535 Big Dalton Ave.
CaliforniaInvestment SalesNewsWestern

Big Dalton Purchases 24-Unit Community in Baldwin Park, California

by Channing Hamilton

BALDWIN PARK, CALIF. — Big Dalton LLC has acquired a 24-unit property located at 3541-3545 Big Dalton Ave. in Baldwin Park, about 17 miles east of Los Angeles. HP Big Dalton sold the asset for $6.3 million. Eric Chen and Justino Fa’aola of CBRE represented the buyer and seller in the deal. The community features two-bedroom residences, with roughly 50 percent of units designated as single-story bungalows. Units feature quartz countertops, vinyl and carpeted flooring, wall-mounted AC units, select kitchen appliances, in-unit washer and dryer and private or shared patios.

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Investment SalesNew HampshireNewsNortheast

Seabrook Real Estate Partners Buys Complex in Hampton, New Hampshire, for $31.5 Million

by Channing Hamilton

HAMPTON, N.H. — Seabrook Real Estate Partners has purchased Appleton Oaks, a 113-unit complex in Hampton, situated near the Maine-New Hampshire border, for $31.5 million. The two-building complex was constructed in phases between 2004 and 2005. Units come in one- and two-bedroom configurations, according to the property website. David Berman, James Stubblebine, David Stubblebine and Zack Hardy of The Stubblebine Co. represented the undisclosed seller in the transaction and procured the buyer.

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The investment sales panel at Interface Affordable Housing Southeast
Affordable HousingConference CoverageFeaturesGeorgiaInvestment SalesSoutheast

InterFace Panel: Affordable Housing Investment Sales Face Uncertain Future

by Channing Hamilton

ATLANTA — Affordable housing is facing a tumultuous second half of the year. Tariffs on building materials such as lumber, steel and aluminum are slowing development activity as they elevate construction costs. Investment sales are also likely to be impacted by unstable economic conditions in the affordable housing sector, where many transactions are conducted within a limited budget due to the nature of income restrictions for renters. Amid high costs and trade uncertainty, many investors are making the decision to stay on the sidelines or invest in markets with more …

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Amberleigh Apartments
Investment SalesNewsSoutheastVirginia

Berkadia Arranges $129 Million Refinancing for Community Near Washington, D.C.

by Channing Hamilton

FAIRFAX, VA. — Berkadia has arranged $129 million for the refinancing of Amberleigh Apartments, a 752-unit community in Fairfax, roughly 20 miles west of Washington, D.C. Patrick McGlohn, Brian Gould, Miles Drinkwalter and Natalie Hershey of Berkadia arranged the financing on behalf of the locally based borrower, Redbrick LMD. The financing consisted of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed source. Amberleigh Apartments features one-, two- and three-bedroom floor plans ranging from 861 square feet to 1,523 square feet, according to …

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Riverwood Apartments
Investment SalesMidwestNewsWisconsin

CBRE Arranges Sale of Two Properties in Wisconsin for $10.1 Million

by Channing Hamilton

MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two multifamily properties totaling 112 units in Mauston and Racine, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is proximate to I-90 and minutes away from Decorah Lake. Built in 1994, the 32-unit property features a mix of one-, two- and three-bedroom floor plans. Biscayne Apartments is located …

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